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Gemini Space Station Shares Plummet After Fed Rate Cut

9/19/2025

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Summary

Story summary

Gemini Space Station Inc. shares dropped 12.8% to $24.53, falling below its IPO price of $28 shortly after its September 12 debut.
The company's market value is now $2.9 billion.
Coinbase Global Inc. fell 2.2%, coinciding with a nearly 1% decline in Bitcoin.
The S&P 500 and Nasdaq 100 indices decreased following the Federal Reserve's first quarter-percentage point rate cut of the year.
Fed Chair Jerome Powell attributed the cut to signs of labor market weakness.

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Story summary

Gemini Space Station Inc. shares dropped 12.8% to $24.53, falling below its IPO price of $28 shortly after its September 12 debut.
The company's market value is now $2.9 billion.
Coinbase Global Inc. fell 2.2%, coinciding with a nearly 1% decline in Bitcoin.
The S&P 500 and Nasdaq 100 indices decreased following the Federal Reserve's first quarter-percentage point rate cut of the year.
Fed Chair Jerome Powell attributed the cut to signs of labor market weakness.